Russian president signs protocol on Kyrgyzstan accession to EEU

/By AzerNews/

By Sara Rajabova

Russian President Vladimir Putin has signed a protocol to the treaty on the accession of Kyrgyzstan to the Eurasian Economic Union.

Draft protocol to the treaty determines the specific terms of accession of Kyrgyzstan to the Eurasian integration, including trade in services, regulation of natural monopolies, transport policy, rules for industrial subsidies, and other, AKIpress news agency reported.

Kyrgyzstan has signed an accession agreement to join the Russian-led Eurasia EEU last December, in view of joining the organization in May 2015.

The agreement withdraws Kyrgyzstan from the general rules of customs tariff regulation.

Kyrgyzstan upon accession to the union must comply with the sanitary, veterinary, and phytosanitary quarantine rules of the union.

The Eurasian Customs Union has been formed by Russia, Belarus and Kazakhstan in 2010. The transition of the ECU into an EEU began in January 2015. On January 1, the treaty between the presidents of Russia, Kazakhstan and Belarus authorizing the EEU went into effect. The EEU aims at free movement of goods, capital, and people between all member states.

Russia will allocate $200mln to Kyrgyzstan for country’s join the Eurasian Economic Union. The Kyrgyz government approved a draft agreement with the Russian government on providing technical assistance to the Kyrgyzstan in joining the Eurasian Economic Union.

Kazakhstan will issue $100 million for Kyrgyzstan in financial aid in order to facilitate the process of country’s joining in the Eurasian Economic Union.